Early Stages and Entrepreneurial Drive (0:00-2:35): Edwin introduces Zen Hammer, whose tagline is “realtime data for realtime managing,” aiming to streamline data flow for contractors and subcontractors (0:10-0:22). He recounts his childhood perception of CEOs as “bad guys” with “cool stuff” (0:35-0:40) and the initial familial pressure to pursue a medical career (0:42-0:50). He later received conflicting advice about entrepreneurship, with a guidance counselor suggesting a career first (0:56-1:03) and entrepreneur friends encouraging him to “just start” (1:12-1:14). Inspired by their enthusiasm, Edwin decided to embrace entrepreneurship (1:17-1:28). Lacking a clear “protocol” for starting a business (1:36-1:56), he learned by doing, driven by his entrepreneurial peers in St. Louis (2:04-2:20).
First Attempts and Lessons Learned (2:35-5:33): Edwin’s initial ventures included a supplement called Aon bios (2:41-3:03), which, despite generating leads, failed to progress due to a lack of direction (2:53-3:03). This experience, however, encouraged him to try again (3:04-3:10). His first “real” attempt, Get Fit Gadgets (3:22-3:32), involved developing a fitness ball prototype (3:22-3:33). However, this venture failed due to contract issues with a manufacturer (3:42-4:14) and a lack of sufficient customer interaction (4:43-5:03), though they did stumble upon interest from occupational therapists and trainers (4:50-4:57). He learned the importance of detailed contracts, particularly regarding timelines and deliverables (3:56-4:14). Edwin also realized the value of learning from mistakes (4:21-4:36), emphasizing the advantage serial entrepreneurs have in iterating and improving (4:31-4:36). With Get Fit Gadgets, a key mistake was not focusing on the right target customer – therapists, not gyms (5:19-5:26).
Perserbid and the Pivot to Zen Hammer (5:33-9:54): Inspired by his mother’s negative experience with a contractor (5:52-6:08), Edwin created Perserbid, a platform connecting homeowners with contractors (5:38-5:45), using an escrow system for payments (5:45-5:51). The initial concept involved holding credit card funds (6:31-6:43), but this proved impractical (6:44-6:50). Perserbid ultimately failed due to mismatched expectations between homeowners seeking quick turnaround times and contractors facing longer lead times, particularly for larger projects like decks and pools (7:02-8:03). Competitors experienced similar challenges (8:10-8:15), demonstrating the market limitations of the model. However, contractors using Perserbid encouraged Edwin to repurpose the contractor-side functionality, leading to the birth of Zen Hammer (8:22-8:33). This marked a significant pivot, focusing on the needs of contractors rather than homeowners (8:28-8:33). He learned that good contractors weren’t looking for more customers (8:40-8:46), a crucial insight he wished he’d had earlier (8:53-8:53). The name “Zen Hammer” came from a competition among contractors, after they deemed Edwin’s naming skills inadequate (9:55-10:35).
Customer Focus and Evolution (9:54-16:08): Edwin stresses the vital role of customer feedback in shaping Zen Hammer (10:43-10:44). He admits to initially missing a key problem that contractors were facing, despite it being mentioned early on (10:49-11:34). A pivotal moment came when a general contractor in Atlanta expressed interest in the app for his subcontractors to improve invoice management, highlighting the issue of disorganized paperwork (11:17-12:04). This interaction led to a shift in focus towards improving communication and documentation (12:05-12:05). Further customer interaction revealed interest from larger trade businesses (12:24-12:50), prompting the addition of features like crew management (13:04-13:10). A chance encounter with a commercial GC led to another pivot, emphasizing the real-time reporting feature of Zen Hammer (13:16-15:32). This serendipitous meeting shaped the platform into its current form, focusing on communication and project tracking (15:33-15:45). Despite delays, continued conversations with customers solidified Zen Hammer’s focus on addressing a gap in the market (15:46-16:03).
Building Relationships and Seeking Investment (16:08-27:31): Edwin describes his involvement with the Home Builders Association, initially motivated by the desire to understand his customer base (16:08-16:16). He recounts a memorable meeting with the executive director, Lisa Luster, while recovering from an eye injury (16:16-17:08). His commitment to the association earned him their support and valuable feedback on both Perid and Zen Hammer (17:09-17:54). Edwin discusses the challenges of raising venture capital (24:26-27:31), contrasting the reality with the romanticized version often portrayed (24:32-24:44). He highlights the shift in investor focus towards revenue generation (25:38-25:43). He admits to initially chasing investment (24:26-25:09) but now prioritizes revenue generation (25:48-25:53), acknowledging this should have been the initial focus (25:54-26:25). Edwin emphasizes the difficulties and low success rate of raising capital (26:00-26:12), advocating for bootstrapping and building a revenue-generating business as the primary goal (26:13-26:25). He also acknowledges the risks associated with venture capital, particularly the pressure for unsustainable growth (26:59-27:24).
Advice and Future Plans (27:31-36:51): Edwin candidly admits that success has taken longer than anticipated (27:38-28:24), sharing an anecdote about an investor who assured him he was “on schedule” (28:04-28:16). He advises aspiring entrepreneurs to prepare for the long haul (28:31-28:36) and learn from successful individuals (28:37-28:53). He quotes Bruce Lee, “learn everything, find what’s useful, discard the rest” (28:47-28:49) as his guiding philosophy. He credits the construction community for their support during challenging times (29:01-29:53). For building a founding team, Edwin recommends finding partners who complement your skills and share your understanding of the startup journey’s uncertainties (29:54-31:37). He outlines his next steps for Zen Hammer, focusing on securing contracts and generating revenue (32:16-32:54). He also discusses his increasing involvement with the National Association of Home Builders, aiming to advocate for the construction industry (32:55-34:20). Finally, he offers advice to aspiring entrepreneurs: “Don’t do it… just kidding.” He emphasizes the importance of focusing on the core business aspects (34:27-35:37), recommends several business books (35:46-36:15), and encourages perseverance and resilience in the face of inevitable challenges (36:16-36:51).
